Russian state-owned oil major Rosneft may buy 19.5% in itself during privatization, Vice President Mikhail Leontyev said. “The corporation is seriously studying the possibility of buying its shares from the owner, I mean the government”, he said. The practice of buying own shares is wide-spread. “This is some kind of paranoia which is taking place…

Russian diamond mining giant Alrosa sold $435.1 million worth of diamonds and $18.9 million of cut diamonds in September, the company said in a statement. “September saw good demand in almost all categories of raw diamonds in accordance with our expectations. Sales exceeded the figures of September 2015 significantly”, Vice President Yury Okoyomov said. In…

Russia’s government commission has put off the launch of a Soyuz-FG flight vehicle with the Soyuz MS-02 spacecraft to October 19, the press service of the Russian state space corporation Roscosmos said. “After a scrutiny of materials on troubleshooting and removal of equipment malfunctions aboard the Soyuz MS-02 ship, the government commission decided to appoint…

In the first half of 2016, the enterprises of Russia’s Federal Space Agency (Roscosmos) earned a profit of 6.5 billion rubles, Igor Komarov, the head of Roscosmos, said. “Our companies have reported a profit of 6.5 billion rubles in the first six months of the year and are on schedule under the Federal Space Program.…

Poland’s rail operator PKP LHS has become a member of the Coordination Committee of the Trans-Caspian International Transport Route (TCITR), Azerbaijan Caspian Shipping CJSC reported. Another meeting of the Coordination Committee was held in Astana. “The creation of a union of legal entities of the Coordination Committee, the signing of the agreement on the establishment…

The Transport Corridor Europe-Caucasus-Asia (TRACECA) transported some 229.5 million passengers through Azerbaijan’s territory in January-August 2016, up by 2.2 percent% YoY, Azerbaijan’s State Statistics Committee reported. Meanwhile, some 33.24 million tons of cargo were transported via the TRACECA through Azerbaijan’s territory during the reporting period, down by 6.6% YoY. Some 64.1% (21.3 million tons) of…

OPEC’s most senior official will discuss the possible participation of Russia in an OPEC production cut, officials in the group said, as the cartel sought to bolster a landmark deal in Algiers. The Organization of the Petroleum Exporting Countries agreed to cut between 200,000 barrels a day and 700,000 barrels a day of their output…

Russian airport operator Basel Aero has signed an agreement with Gelendzhik authorities to construct a new terminal at Gelendzhik Airport, which is scheduled to open at the end of 2018. It was originally planned to be ready at the end of 2017. Basel Aero will invest up to 520 million rubles ($8.3 million) in the…

The upgraded Pantsir-SM combined surface-to-air missile and anti-aircraft artillery weapon system, equipped with a multifunctional targeting system, will be able to destroy targets 40 kilometers away – twice the range of the current configuration, the first deputy CEO, chief designer of the Instrument Design Bureau KBP in Tula (an affiliate of Rostec) Alexander Khomyakov reported.…

Belarus is ready for a compromise in energy disputes with Russia, President Alexander Lukashenko said. “We are sensible people and we are ready for compromises, but they must be honest”, Lukashenko said. He said that the negotiations had made some progress lately and that there were certain “new proposals” from Russia. “I think that the…

Russia may freeze the export of RD-180 rocket engines, as well as components for high-tech industries to the United States in retaliation for unfriendly policies, the first deputy chairman of the State Duma’s economic policy and industry committee Vladimir Gutenev has suggested. “Our further steps will depend on how our opponents go about the business…

The Islamic fund on microfinance might be created in Azerbaijan, a source on the country’s finance market reported. The source said that the issue was being discussed by Azerbaijan’s microfinance organizations. “The discussions are still at a very early stage, but if market participants agree and adopt a certain decision, then international financial organizations can…

Iranian Mahan Air airline will launch regular flights on Tehran-Baku-Tehran route from October 31, press service of Heydar Aliyev International Airport reported. Azerbaijan State Civil Aviation Administration issued the relevant permission after receiving a request from the airline to perform flights three times a week. Flights are scheduled three times a week on Tuesdays, Wednesdays…

Jakarta plans to purchase Russian-made helicopters in order to use them in the province of West Java in particular, Indonesia’s ambassador to Russia Wahid Supriyadi said. “We would like to purchase helicopters from Russia. There are many islands in West Java, so the helicopters are in great demand there”, the ambassador said at a meeting…

On September 28, the credit rating of Moscow Domodedovo Airport was affirmed at the same level, which evidences sustainability of the airport’s business model in challenging market conditions. According to Fitch Ratings’ evaluation, the external environment and associated changes have a certain impact on the company, however the removal of a set of limitations will…

Mechanisms to support the export of Azerbaijani products will apply only to goods produced in the non-oil sector, head of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Rufat Mammadov reported. However, the entrepreneurs, who can benefit from these mechanisms, will face no restrictions. “Export process is quite difficult. First of all, entrepreneurs should have…

Power plants of the Azerenergy JSC, Azerbaijan’s main electricity producer, generated 16.5 billion kilowatt hours of electricity in January-September as compared to 16.8 billion kilowatt hours generated in the same period of 2015. Azerenergy’s power plants produced about 1.7 billion kilowatt hours of electricity in September. In 2015, Azerenergy produced more than 22.5 billion kilowatt…

China has approved a list of Russian wheat, corn, rice, soy and rapeseed exporters and grain storage facilities, Russia’s Federal Service for Veterinary and Phytosanitary Oversight said in a statement. According to the document, China allowed imports from about 200 companies from the Omsk, Irkutsk, Novosibirsk, Amur, Sakhalin, Kemerovo, Zabaikalsky, Khabarovsk, Krasnoyarsk, and Primorsky regions…

Belavia has withdrawn its last two active Tu-154Ms from scheduled passenger service as of October 1. The type’s last regular flight was Minsk National-Gomel. The Belarus national carrier said the trijet would be used for charter flights ferrying workers to Belarus’s north. These services will continue until late December following which the aircraft will be…

Azersun Holding Group of Companies plans to bring the share of Azerbaijani raw materials in production at its enterprises to 40-50% this year, Abdolbari Goozal, chairman of the holding’s supervisory board, said. He also said currently the share of local raw materials in the holding’s production was about 30%. Raw materials for some kinds of…

Azerbaijani investors aim to build a petrochemical plant in Turkey’s eastern province of Van province’s governor Rahmi Dogan reported. Dogan said that the new plant would use modern technologies and help open more than 100 new jobs. He also noted that liquefied natural gas (LNG) and other raw materials for the plant would be delivered…

Customs duties on the export of hides will be introduced in Azerbaijan for 5 years, according to the decision of the country’s Cabinet of Ministers published in the Azerbaijani official press. The changes, in particular, will affect the export of cattle hides, raw hides of sheep and lambs, including fresh, salted or dried hides. In…

Azerbaijan’s Energy Minister Natig Aliyev will take part in an informal meeting of the OPEC member states and non-members of the organization within the framework of the 23rd World Energy Congress in Istanbul, Azerbaijan’s Energy Ministry reported. The OPEC Secretary General Mohammad Sanusi Barkindo sent the invitation to Azerbaijan’s energy minister to participate in the…

All countries involved in the North-South Transport Corridor project have connected to the cargo transportation process, reads the message of the ADY Express company, logistics operator of Azerbaijan Railways CJSC. The company implemented reception, handling and shipment of three out of five 40-foot universal containers loaded with electrical equipment and spare parts in Azerbaijan’s Astara…

Ukrzaliznytsia has increased the annual wagon repair plan from 19,370 to 29,970, including to secure the growing exports of grain that could be 5 million tons a month by all means of transport by the end of this year. “The anticipated harvest is 83 million tons of grain and 45 million tons for exports. Five…

Bakcell, the first mobile operator and leading mobile internet provider of Azerbaijan, is pleased to announce the start of a new campaign in cooperation with the sole national postal operator of the country – Azerpost LLC, within the frames of the Ulduzum loyalty program. Within the frames of this campaign, any person, who transfers money…